Polymer Capital Management HK LTD Invests $1.43 Million in Nurix Therapeutics, Inc. $NRIX

Polymer Capital Management HK LTD purchased a new position in Nurix Therapeutics, Inc. (NASDAQ:NRIX) during the second quarter, HoldingsChannel reports. The fund purchased 58,898 shares of the company’s stock, valued at approximately $1,429,000.

Several other hedge funds have also recently bought and sold shares of NRIX. Larson Financial Group LLC boosted its position in Nurix Therapeutics by 339.0% during the fourth quarter. Larson Financial Group LLC now owns 1,541 shares of the company’s stock worth $29,000 after purchasing an additional 1,190 shares in the last quarter. Intesa Sanpaolo Wealth Management acquired a new stake in Nurix Therapeutics in the fourth quarter valued at $31,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Nurix Therapeutics in the fourth quarter valued at $33,000. KBC Group NV purchased a new position in shares of Nurix Therapeutics in the first quarter valued at $34,000. Finally, Avalon Trust Co acquired a new position in shares of Nurix Therapeutics during the 2nd quarter worth $64,000.

Nurix Therapeutics Price Performance

Shares of NASDAQ NRIX opened at $26.72 on Monday. The company has a market cap of $2.77 billion, a PE ratio of -7.74 and a beta of 1.79. Nurix Therapeutics, Inc. has a 12 month low of $8.19 and a 12 month high of $28.23. The company has a 50-day simple moving average of $23.43 and a 200-day simple moving average of $18.65.

Nurix Therapeutics (NASDAQ:NRIX) last announced its quarterly earnings data on Thursday, July 9th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.73) by ($0.08). Nurix Therapeutics had a negative net margin of 928.44% and a negative return on equity of 76.09%. The firm had revenue of $9.04 million for the quarter, compared to analysts’ expectations of $15.29 million. On average, analysts anticipate that Nurix Therapeutics, Inc. will post -2.73 EPS for the current year.

Insider Buying and Selling at Nurix Therapeutics

In other news, insider Gwenn Hansen sold 5,394 shares of the firm’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $20.00, for a total transaction of $107,880.00. Following the sale, the insider owned 115,005 shares in the company, valued at $2,300,100. This trade represents a 4.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Houte Hans Van sold 4,761 shares of the firm’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $24.36, for a total value of $115,977.96. Following the sale, the chief financial officer owned 40,166 shares in the company, valued at $978,443.76. This trade represents a 10.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 25,314 shares of company stock valued at $589,361 over the last quarter. 6.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Mizuho boosted their price objective on shares of Nurix Therapeutics from $30.00 to $34.00 and gave the stock an “outperform” rating in a research report on Monday, July 13th. Wall Street Zen upgraded shares of Nurix Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nurix Therapeutics in a research report on Friday, July 17th. Truist Financial lifted their price objective on Nurix Therapeutics from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $34.00 target price on shares of Nurix Therapeutics in a research note on Tuesday, August 4th. Thirteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Nurix Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $34.21.

Nurix Therapeutics Profile

Nurix Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of small-molecule therapies that harness the ubiquitin-proteasome system to selectively degrade disease-causing proteins. By modulating E3 ubiquitin ligases and related molecular machinery, Nurix aims to expand treatment options for patient populations with unmet medical needs in oncology and immunology.

The company’s pipeline includes multiple programs in various stages of development.